Keeping Pace with Rapidly Evolving Digital Technologies

In the fifth post of our series - ‘Solving Your Key Business Challenges in 2023’ - we take a look at the existing and emerging technologies that you need to consider to stay ahead of the curve and your competitors.

We know that staying current with new technologies can be a challenge for businesses, as it often requires investment in expertise, unfamiliar tech and additional training for employees - all of which can be a costly affair. However, it’s very clear that the digital transformation of business is continuing to accelerate at an ever increasing pace. If you don’t adapt, your marketing and wider business performance will suffer.

“68% of CMOs are expecting their spending on Martech to increase.”Gartner

Marketing spend is precious and businesses need to do everything they can to maximise the value of their investment. This means that before adopting any marketing technology, you have to be certain you are choosing the right one to reach and engage your target audiences effectively.

Here are some of the top marketing technologies that businesses are typically looking at:

• Artificial Intelligence and Machine Learning
• Marketing Automation Platforms
• Marketing Attribution Tools
• Customer Relationship Management Systems
• Content Management Systems
• Personalisation Engines
• Social Media Management Tools
• Data Analytics and Business Intelligence Tools
• Programmatic Advertising Platforms
• Influencer Marketing Platforms
• Customer Experience Management Platforms

Of all the above perhaps the area causing the biggest ‘buzz’ for Marketers is Artificial Intelligence, so let’s make that our focus.

AI - a revolutionary tool, but not a magic panacea for everything.

AI has made some remarkable strides this year and its list of applications are endless. While it is unquestionably a revolutionary tool, and despite what you may have been lead to believe, it doesn’t do everything efficiently.

Let’s take a closer look to see what marketing applications AI does have and what can or cannot be fully trusted.

1. Content creation
This is an area where you have to proceed with caution. AI like Openai’s ‘Chat GPT’ or Google’s ‘BRAD' can assist you in generating content for blogs, social media, and marketing materials - which on the face of it looks like a quick and easy fix.

However, current AI systems learn from large amounts of existing data gathered from all over the internet which may be several years old and could contain a large amount of inaccurate, biased and/or misleading content. This could obviously find its way into the requested information.

In addition, as AI uses this ‘pool’ of existing art, imagery or writing to create its ‘new' content, it could lead to many people using very similar material.

It also doesn’t possess ‘human’ creativity - the ability to create original, engaging content that leverages the nuances in language, humour and emotion - and ‘outside of the box thinking’ to develop new approaches or insights that result in unexpected, compelling solutions.

2. Content optimisation
AI tools can optimise content by analysing data to determine which types of content resonate best with the target audience and recommend material that is optimised for search.

3. Customer data analysis
AI systems like Microsoft’s ‘Azure Machine Learning’ or ‘Tableau’ can help you process vast amounts of customer data from multiple sources, such as CRM systems, website interactions, social media, and purchase history. By analysing this data, AI can identify and visualise patterns, preferences, and trends, enabling businesses to create more targeted marketing campaigns, messaging and calls to action.

4. Personalisation
AI tools such as ‘Personalize AI’, ‘Intellimize’ or ‘Adobe Target’ can help businesses to deliver highly targeted content and more relevant offers to individual customers. By understanding customer behaviour and preferences, AI can recommend products and services, tailored to each customer's interests, increasing engagement and conversion rates.

5. Predictive analytics
AI-driven predictive analytics can take things one step further, helping businesses identify key signals that anticipate customer behaviour, helping to forecast market trends. AI driven insight can allow marketers to rapidly tailor their strategies to meet changing customer demands.

6. Chatbots, virtual assistants and video avatars
AI-powered chatbots and virtual assistants can be used on websites and social media platforms to provide instant and personalised customer support. Chatbots can answer frequently asked questions, guide customers through the sales funnel, and resolve issues efficiently. AI powered video avatars - although still a little ‘robotic’ - can allow you to rapidly produce high quality training videos in multiple languages.

7. Programmatic advertising
If you’re using Google ads you’re already leveraging the power of AI. AI-powered programmatic advertising automates the ad buying process, allowing businesses to target specific audiences with relevant ads in real-time. This increases ad efficiency and reduces wasted ad spend.

8. Customer segmentation and targeting
AI algorithms can quickly segment customers based on their behaviour, preferences, and demographics. Enabling businesses to deliver targeted marketing messages to specific customer groups, increasing the effectiveness of campaigns.

9. Marketing automation
AI-driven marketing automation streamlines repetitive tasks, such as email marketing, lead nurturing, and social media scheduling. This allows Marketers to focus on strategy and creativity while ensuring consistent and timely communication with customers.

10. Social media analysis
AI tools can help you monitor social media platforms for brand mentions, sentiment analysis, and customer feedback. This information helps businesses engage with customers, manage their online reputation, and identify potential issues.

“The number of marketing professionals using AI Martech grew by 186% from 2018 to 2021”

Conclusion
For digital marketers, AI brings many advantages providing valuable insights into customer behaviour to help drive and focus your marketing strategy, enhance efficiency, target the right audiences more effectively and deliver highly tailored experiences to customers.
However, AI is just one of many technology advancements that have come to the fore in 2023, just part of the rapidly evolving digital landscape ready to be utilised to gain a competitive edge.

To find out how MC+Co can help you drive more impact from your advertising and marketing spend call +44 (0) 1277 366898. Alternatively please fill out the form below and we’ll get back to you asap.